Guilford County NC MUNIS #20162

Guilford County Awards Security Custody Services Contract to Fifth Third Bank National Association

Guilford County Purchasing Department in Greensboro, NC has awarded a contract for Security Custody Services for its investment portfolio. - Government Buyer: - Guilford County Purchasing Department, Greene Street Building, Basement-Suite 072, Greensboro, NC - Awarded Vendor (OEM): - Fifth Third Bank National Association - Services Requested: - Custody of portfolio securities - Receipt, transfer, and delivery of County assets - Daily deposit of monies - Recordkeeping in compliance with accounting standards - Monthly and online reporting of account activity - Notification of pending maturities and interest payments - Settlement instructions for brokers - Transfer of securities from the current custodian - Notable Requirements: - Compliance with SEC regulations for custodians - Robust online access to account information - Detailed monthly reporting - Aspirational 15% Minority and Women Business Enterprise (MWBE) participation goal - Contract Details: - Initial two-year term, with options for two additional two-year renewals (up to six years total) - Awarded contract value: $23,330 - No specific product part numbers or purchase quantities listed, as this is a service contract.

Description

Guilford County Purchasing Department is soliciting proposals from qualified firms to provide Security Custody Services for investments. The contract will initially be for two years with options to renew for two additional two-year periods, totaling up to six years. The selected provider must meet qualifications for custodian of portfolio securities and provide services including receipt, transfer, and delivery of County assets, monthly custody statements, online access to transaction information, and transfer of securities from the current custodian. The County encourages minority and women business enterprise participation with an aspirational goal of 15%.

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